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    Terpene Resins Market Report

    Terpene Resins Market Report
    Report code - SR2644 Delivery - 2 Weeks
    Terpene Resins Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Oppor See more...

    Market Insights

    The terpene resin market is likely to grow at a promising CAGR of 7.9% in the long run to reach US$1.4 Billion in 2028.

    Terpene resin is an organic substance that is derived from plants, such as citrus fruits or wood. A solid substance with a light color called terpene resin is soluble in many solvents. Terpenes also frequently have a potent smell and a high degree of resistance. It is utilized extensively in the industrial sector as an essential oil, fragrance, and flavoring ingredient. The market is expanding as a result of rising terpene demand in end-use sectors such as cosmetics, food & beverage, paints & coatings, rubber, and pharmaceuticals.

    The market for terpene resins has a sizable opportunity due to the high demand for bio-based resins. When compared to conventional petroleum-based resins, bio-based resins have a lower carbon footprint since they are produced from renewable resources, such as plant-based materials. They are thus a more environmentally responsible and sustainable substitute for conventional resins. The demand for bio-based terpene resins is skyrocketing as environmental awareness and the need to lessen reliance on fossil fuels rise. The increased consumer awareness of the environmental effects of conventional resins and government laws to limit greenhouse gas emissions are both factors in the rise in demand for bio-based resins. In the near future, it is anticipated that more industries, including construction, automotive, and packaging, will adopt bio-based terpene resins

    Segments' Analysis

    Segmentations

    List of Sub-Segments

    Dominant and Fastest-Growing Segments

    Type Analysis

    Solid and Liquid

    The solid segment accounts for the largest share of product types in the terpene resin market.

    Grade-Type Analysis

    Industrial and Technical

    Industrial grade segment to lead the grade in the overall terpene resin market.

    Application-Type Analysis

    Adhesives & Sealants and Inks & Coatings, Plastic & Rubber Processing, Pulp & Paper, Leather Processing, Others

    Adhesives & Sealants application segment to lead the terpene resin market.

     Regional Analysis

    North America, Europe, Asia-Pacific, and The Rest of the World

    Asia-Pacific is estimated to grow at the fastest rate in the terpene resin market.

     

    Based on Type

    The terpene resin market is segmented into solid and liquid, Solid is expected to remain the largest type in the market during the forecast period. Terpene resins are produced and provided in the aforementioned forms to satisfy the requirements of particular applications. Terpene resins are produced and provided in solid forms, such as flaked, granular, and powered, and can be used in a variety of processes, such as the production of chewing gum, paper and pulp, leather, and adhesives & sealants. Terpene resins are typically supplied in containers in order to protect them from external factors like weather, temperature, and moisture.

    Grade Type

    The market is segmented into industrial and technical. Industrial grade is expected to remain the dominant grade type in the market during the forecast period. It is a type of plastic or polymer material that is appropriate for use in industrial applications and is often built to be sturdy, long-lasting, and damage resistant. A sort of resin called technical-grade resin, on the other hand, is one that has been specially created to meet the technical specifications of a given application or industry.

    It might have particular qualities that make it acceptable for use in particular applications, such as high-temperature resistance, UV resistance, or chemical resistance. Technical-grade resin often has stricter quality assurance and purity requirements than industrial-grade resin.

    Application Type

    The market is segmented into adhesives & sealants, inks & coatings, plastic & rubber processing, pulp & paper, leather processing, and others. Adhesives & Sealants are expected to remain the dominant grade type in the market during the forecast period. Terpene resins are flexible and natural substances used in a variety of applications, making them the industry's main application category. They are regarded for their natural origin, low toxicity, and environmental friendliness and are used as a binder, sealer, and coating material.

    Terpene resins are frequently employed in water-based adhesives and sealants. They are also utilized as raw materials in the manufacture of other types of adhesives and sealants, including rosin-based and hot-melt adhesives. In order to protect and improve the appearance of various materials, they are also utilized in the creation of varnishes, lacquers, and other coatings.

    Regional Analysis

    Asia-Pacific is expected to remain the largest market for terpene resins during the forecast period. The market is propelled by rising end-use industry demand as well as superior terpene resin properties, such as chemical inactivity, non-toxicity, and effectiveness, as compared to some of the traditionally used products, which are anticipated to accelerate market growth during the region's forecast period.

    The terpene resins market is segmented into the following categories:

    By Type

    • Solid (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Liquid (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    By Grade Type

    • Industrial (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Technical (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    By Application Type

    • Adhesives & Sealants (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Inks & Coatings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Plastic & Rubber (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Pulp & Paper (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Leather Processing (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    By Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, The UK, Russia, and The Rest of Europe)
    • Asia-Pacific (Country Analysis: Japan, China, India, and the Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Brazil, Argentina, and Others)

    Key Players

    The market is highly populated, with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors, including price, product offerings, regional presence, etc. The following are the key players in the terpene resins market:

    • Eastman Chemical
    • Kraton
    • Mangalam Organics
    • Yasuhara Chemical
    • Foshan Baolin Chemical Industry
    • BOC Sciences
    • Skyrun Industrial
    • Grenhall Industries
    • Lesco Chemical
    • Xinyi Sonyuan Chemical

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s terpene resins market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.

    The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • COVID-19 impact and its recovery curve.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for existing and new players.
    • Key success factors.

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Frequently Asked Questions (FAQ)

    The terpene resins market is estimated to grow at a CAGR of 7.9% by 2028, driven by high demand for bio-based resins.

    Skyrun Industrial, Eastman Chemical., Mangalam Organics SA, BOC Sciences, Kraton, Saargummi, and Foshan Baolin Chemical Industry, are the leading players in the terpene resin market.

    Asia-Pacific is estimated to remain dominant in the terpene resins market in the foreseeable future. The market is propelled by rising end-use industry demand as well as superior terpene resin properties, such as chemical inactivity, and non-toxicity.

    Adhesives & Sealants are estimated to take the lead in the terpene resin market in the coming years due to high usage in a variety of industries.

    Industrial grade is expected to remain the dominant grade type in the market during the forecast period. It is a type of plastic or polymer material that is appropriate for use in industrial applications and is often built to be sturdy, long-lasting, and damage resistant.